NEM (XEM) spikes 7% in the wake of Timechain support and Institute of Blockchain Partnership

The current status in the cryptocurrency market is strongly bearish. Most of the crypto assets are recording losses of up to 6 percent on the day. On the contrary, NEM (XEM) is trading in the green with a 7% surge in the last 24nhours. The digital asset’s community has been receptive of the recently released support and partnership news.

Timechain Wallet NEM (XEM) Support

Related articles

Timechain is a blockchain platform that offers wallet services for cryptocurrency users. The platform, however, offers a lot more than storage for digital assets; users are able to buy, sell, trade and even hold virtual currencies. Timechain wallet is a multiple-currency platform that offers support for many digital assets.

The platform helps users manage assets while at the same time ensuring seamless communication with other blockchain-based services and users. Timechain is meant for both the novice and the expert user of digital assets. The partnership with NEM (XEM) allows the users of the token to create multiple side-chain wallets. The users will also be able to create categories that simplify cryptocurrency management. The support also gives NEM users the ability to buy digital assets right from their Timechain wallet. While commenting on the partnership, the CEO of Timechain, Louis Cleroux said:

“Wallets are becoming the centerpiece of blockchain mass adoption. Timechain strive to offer the most simple solution to use blockchain and cryptocurrencies to its users. NEM technology is a front runner for digital assets management. We need to popularize this amazing tech to the market. Businesses will dramatically reduce their cost and greatly increase their distribution reach by using this solution.”

Singapore Institute of Blockchain Partnership takes up NEM Blockchain for its Electronic Certificates

NEM has recently been in the headlines following the news that the Singapore Blockchain Institute is utilizing the platform’s blockchain for issuing its electronic certificates. The institute, since its inception in January 2018, has been committed to the vision of advancing and delivering blockchain-based education in the Asian region. In addition to its primary goal, the institute is also a blockchain research center. The partnership with NEM allows the institutes to issue electronic certificates to its successful students. Similarly, the two companies will together facilitate blockchain community events and other works in the future. The President of the Institute of Blockchain, Alvin Chua said in a comment:

“The mass adoption of blockchain starts with day to day usage of a reliable and credible blockchain protocol/platform such as NEM”

The Blockchain Institute is a fully certified education provider under the Singapore government. It was initially a startup of the Alibaba Cloud-SUSS Entrepreneurship Programme. The institute’s strategic partnerships include SUSS, IBM Academic Initiative, DIFY, and Justicius Law Corporation among others. It boasts of having customer relations with companies like Delotte, GCOX, ERA, Hong Kong-based Ninecoin and Tuandai.

NEM (XEM) Price Overview

NEM price is exchanging at $0.1 at the time of press. As mentioned above, it is up 7% in the last 24 hours. It has a market capitalization of $936 million while its volume stands at $17 million. Both the exchange volume and the market cap have seen considerable growth in the past few days due to the partnership news. NEM is likely to continue defying the market bear wave and record higher price levels.

CryptoRecorder.com is a Dedicated Cryptocurrency news website and writes a variety of educational articles related to smart crypto trading, bitcoin and altcoins. You will find a details article on almost every hot altcoin and unbiased analysis of coins.